Talos Energy(US:TALO)2024-08-08 16:29Financial Highlights - Talos reported an Adjusted EBITDA of $344 million for 2Q 2024[9] - The company's Adjusted Free Cash Flow (before changes in working capital) was $148 million for 2Q 2024[11] - Talos reduced its debt by $100 million in 2Q 2024[13] - Talos increased its 2024 debt reduction target from $400 million to $550 million[28] Operational Performance - Average daily production reached 955 MBOE/D in 2Q 2024, with 73% oil and 81% liquids[14] - The company's 2024 production guidance remains unchanged at 890 – 950 MBOE/D[15] - Talos repurchased 38 million shares for $43 million[14] Strategic Initiatives - Talos completed the integration of QuarterNorth and is on track with synergy realization[14, 16] - The company is pursuing select business development opportunities, including the Monument Farm-in, which has a 2P PV-10 of $265 million[15] - Talos estimates cost savings of $35+ million in 2024 and $65+ million in 2025+ due to integration and divestiture[16] Future Projects - The Greater Katmai Area has an estimated resource potential of 180 – 200 million BOE[20] - The Katmai West 2 well, expected to spud in 3Q 2024, has the potential to add material proved reserves of ~100 million BOE[21] - The Monument discovery has an estimated 2P reserves of ~115 million BOE[27]